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Aristocrat, IGT Settle Patent Lawsuit

The case involved patents and intellectual property rights in the fields of cashless technology, bonusing, and slot machine hardware. The terms of the out-of-court settlement are confidential to the parties.

Kent Young, Vice President of Marketing for Aristocrat, said, "We are pleased that Aristocrat and IGT were able to come to an agreement that is beneficial to both parties. Aristocrat is committed to developing its business in the United States, and with the dispute behind us, we can move forward without distractions and continue developing and selling innovative products to our partners in the gaming industry."

Shawn Van Asdale, Director of Strategic Development for IGT, echoed this sentiment and said, "In addition to being a win-win for IGT and Aristocrat, the agreement is a win for cashless gaming and the industry as a whole. As a result of the settlement and the other cashless patent licenses known as the IPP that are administered by International Game Technology subsidiaries, every major manufacturer of cashless systems and gaming machines is now licensed to the cashless patents in the IPP. This clears the way for any U.S. casino to implement cashless technology on its floor using virtually any combination of systems provider and gaming machine manufacturers."

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